Melwood Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03898256

MELWOOD LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 December 2024

MELWOOD LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

Contents	Page

Balance sheet 1

Notes to the financial statements 2

MELWOOD LIMITED

BALANCE SHEET

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	5	2,005,000	1,860,000

Current assets

Debtors	6	1,945,271	2,298,887
Cash at bank and in hand		30,352	11,644
		------------	------------
		1,975,623	2,310,531

Creditors: amounts falling due within one year	7	( 3,005,780)	( 3,267,797)
		------------	------------
Net current liabilities		( 1,030,157)	( 957,266)
		------------	------------
Total assets less current liabilities		974,843	902,734

Provisions

Taxation including deferred tax	( 129,000)	( 103,000)
	------------	------------
Net assets	845,843	799,734
	------------	------------

Capital and reserves

Called up share capital	9	300	300
Non-distributable reserve		592,074	483,374
Profit and loss account		253,469	316,060
		------------	------------
Shareholders funds		845,843	799,734
		------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 22 September 2025 , and are signed on behalf of the board by:

A Dobson Director

Company registration number: 03898256

MELWOOD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 23 Primrose Lane, Highburton, Huddersfield, HD8 0QY.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents the total amount of rents receivable and the value of services provided.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at the date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	33% straight line

In the year of acquisition tangible fixed assets are depreciated from 1 January.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).

5. Tangible assets

	Freehold investment properties	Equipment	Total
	£	£	£
Cost or valuation
At 1 January 2024	1,860,000	6,979	1,866,979
Fair value adjustment	145,000	–	145,000
	------------	------------	------------
At 31 December 2024	2,005,000	6,979	2,011,979
	------------	------------	------------
Depreciation
At 1 January 2024 and 31 December 2024	–	6,979	6,979
	------------	------------	------------
Carrying amount
At 31 December 2024	2,005,000	–	2,005,000
	------------	------------	------------
At 31 December 2023	1,860,000	–	1,860,000
	------------	------------	------------

Freehold investment properties are valued by the director, A Dobson . The historic cost of freehold investment properties at 31 December 2023 and at 31 December 2024 is £1,264,226.

6. Debtors

	2024	2023
	£	£
Prepayments and accrued income	1,454	73,007
Other debtors (note 10)	1,823,817	1,815,880
Secured loans	120,000	410,000
	------------	------------
	1,945,271	2,298,887
	------------	------------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Accruals and deferred income	58,449	67,729
Directors' loan accounts (note 10)	1,657,331	2,072,068
Other creditors (note 10)	1,290,000	1,128,000
	------------	------------
	3,005,780	3,267,797
	------------	------------

8. Deferred tax

The deferred tax included in the balance sheet is as follows:

	2024	2023
	£	£
Included in provisions	129,000	103,000
	------------	------------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2024	2023
	£	£
Fair value adjustment of financial assets	148,700	112,400
Unused tax losses	( 19,700)	( 9,400)
	------------	------------
	129,000	103,000
	------------	------------

9. Called up share capital

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
A Ordinary shares of £ 1 each	100	100	100	100
B Ordinary shares of £ 1 each	100	100	100	100
C Ordinary shares of £ 1 each	50	50	50	50
D Ordinary shares of £ 1 each	50	50	50	50
	------------	------------	------------	------------
	300	300	300	300
	------------	------------	------------	------------

On a written resolution, every member holding one or more A Ordinary shares shall have one vote for each A Ordinary share held. Members holding B Ordinary shares or C Ordinary shares or D Ordinary shares shall not be entitled to receive notice, nor attend and vote at, any general meeting or on a written resolution of the Company. Any profits which the Company may determine to distribute in respect of any financial year may be distributed amongst the members holding the C Ordinary shares and the members holding the D Ordinary shares and the Company may declare different amounts of dividend on these different classes of shares. The members holding the A Ordinary shares shall not be entitled to receive a dividend on the A Ordinary shares. The members holding the B Ordinary shares shall not be entitled to receive a dividend on the B Ordinary shares.

10. Related party transactions

Transactions with directors The directors' loan accounts of £1,657,331 (2023: £2,072,068) set out at note 10 above are unsecured and repayable on demand. Interest on the loans from the directors was charged during the year and amounted to £42,500 (2023: £42,500). A Dobson is a director of Melwood 2 Limited and holds 65% of that company's ordinary share capital. Included in other debtors is a loan due from Melwood 2 Limited in the amount of £159,664 (2023: £150,486 ). Interest on the loan was charged during the year and amounted to £Nil (2023: £Nil). A Dobson is a director of Melwood Lettings Limited and indirectly holds 65% of that company's ordinary share capital. Included in other debtors is a loan due from Melwood Lettings Limited in the amount of £1,664,153 (2023: £1,665,394). Interest on the loan was charged during the year and amounted to £66,000 (2023: £72,000). Included in other creditors are amounts totalling £1,236,000 (2023: £1,128,000) due to children of the directors. These creditors are unsecured and repayable on demand. Interest on these creditors was charged during the year and amounted to £Nil (2023: £10,000). Control of the company The company is controlled by the directors.